Proprietary Report with Analysis on U.S. Revolving Consumer Credit.
U.S. consumer revolving credit for May, mostly credit card debt (95%), continued to climb above the $1 trillion milestone set in December, growing at a solid clip annually. While climbing steadily throughout 2016, consumer revolving credit increased at an +8.7% annual rate of growth in May, compared to a revised +1.4% annual rate in April and a revised +3.7% annual rate in March.
Non-revolving credit increased at an annual rate of +4.7% in May.
Total revolving credit for May posted at $1018.5 billion, compared to a revised $1009.1 billion in April, and a revised $1010.0 billion in March, according to the Federal Reserve.
On a quarterly basis U.S. revolving . . . .